Winnipeg Free Press

Winnipeg Free Press (Newspaper) - April 8, 1925, Winnipeg, Manitoba I i is 14 Manitoba free press Winnipeg wednesday april s. 1925 1 i lower earnings in 1924 is Story told in Canadian Consoli dated rubber annual report. Reserves of company world Trade and Commerce mines and Money markets motor ships make up 42. Up. Cent. Of All vessels now building German activity is featured i Industry. General attack by bears fails to change tone technical position now Strong and optimism reigns supreme in Wall Street special United r i Rte by a Roii or late wire by Todd w. Wright now York april wheat was making a fairly Good recovery stocks were battling against another Effort to drive their prices Down Tho liquidation when it first appeared was mostly profit taking which bras a natural enough development no tar the Sharp rises in the previous session but the bears attempted to exaggerate Tho importance of the re action and staged a drive on the rather vulnerable Northwestern rail ways. But the majority who Are on the other Side of the Market refused to be led astray and As prices fell so did the trading volume until activity tvs at an extremely Low level and in the last hour a. Good rally set in that carried virtually All the stocks above their Low prices of the Day. Carrier shares suffer the bears directed their attack with special viciousness against Chi Cago and Northwestern and forced it Down nearly five Points. Other car Rier shares of that District declined in sympathy until a counter Demon stration was started in Norfolk and Western by operators for the Rise. This checked the reaction and started the rally that spread to All sections of the list prior to Tho decline the trend had been upward with nearly a dozen issues in the Oil and motor groups scoring new highs for the year. A Factor contributing to the temporary Success of speculators for the decline was firmness in the Call Money Market which renewed at four per cent. Another development tend ing to temper Trade on the buying Side was a. Cut in gasoline prices in the East. On the whole Tho action of the Market today was most encouraging and there was no evidence of any weakening in its technical position which now according to the almost unanimous opinion of Tho trading fraternity is stronger than it has been for Many months. Fluctuations were narrow and irregular in foreign Exchange with French francs fairly Well supported and Sterling holding firm. Premier mine May be sold is Rumor Price mentioned is by Seluke company Canadian 1 ref a Dos Ratcli Victoria b.c., april circles Here were excited today by a report that the Seluke mining com Pany of London eng., had made an offer for the Purchase of the pre Mier British Columbia s 1 wonder at Stewart in the Portland canal District. The figure coupled with the rumoured offer was Tho sum of color is Lent to the report by the fact that the Seluke company is a very substantial Holder of Stock in the British Columbia Sliver mine which adjoins the Premier. A recent Ore body revealed in the British Columbia Silver was close to the work Ings of the big producer. Forroi Exchange the United states Dollar was quoted at a Premium of 7-64 per cent the British Pound was quoted at the Banks for 54.79 Normal Price without Bank charges 54.s6 2-3. The Money of the countries of Continental Europe was for Sale at the following prices in Canadian cents Day s Normal Price Price French franc 19.3 belgian franc 5.14 19.3 Swiss franc 19.46 19.3 italian lira France already Over maximum Canadian Pacific railway earnings greek drachma norwegian Crown _ danish Crown swedish Crown German reichsmark Spanish peseta dutch Guilder 5.24 5.14 19.46 4.20 1.75 16.25 18.54 27.11 23.96 14.36 40.11 19.3 19.3 27.0 27.0 26.8 23.8 19.5 40.0 Winnipeg stocks listed stocks. Beaver fire. Can. Fro ins. Can. Pacific by Crescent Home investment nor. Mort. Union Bank fully of Winnipeg april 7. Par value. Bid. Asked .5100 105 50 55 100 145 51 50 100 1oo pm. 1oo of. 100 100 mpg. Elec. By 100 40 unlisted British Amer. Oil 25 North Star Oil pad. 5 410 traders Bush. 100 81 West. Grocers pad 100 25 elec. . Pcs. 100 s5 Bingo 1 5 80 "42 420 83 30 1 Kate. War loan. 1925 5 1931. 5 1937. 5 refund Luff loan 1928. 5 1943 5 19444% War loan renewal 1927so. 1932. Victory loan. 1927. 1933-. 19s4. 1937._ 5 i quotations on Victory Bonds Are for denominations. Sales. At 3. At 102.60 at 104 150 at 104. At 103.40. 100.40 101.90 103.90 100.6o 102.20 96.70 101.85 1oj.2s 103.65 106.30 104.10 103.80 100.90 102.10 103.40 103.00 106.45 104.20 109.10 four big Oil concerns enter Mesopotamia Field the signing of an agreement Between he turkish Petroleum company and the Iraq government by which the former secures the Concession for the Oil rights in the Mosul and Baghdad Vila yets Marks the commencement of Tho exploitation of an oilfield in which great Hopes Hava been centred says the London times. A 35 per cent interest the company which is to undertake the development of the Field will be held by each of the four interested groups namely the Anglo persian company the Shell Royal dutch group Tho important French interests represented by the Compagnie Francaise Des to trolls and an american group including amongst others the stand Ard Oil of new Jersey the Sinclair consolidated Oil corporation and the interests. Canadian mining stocks april Hammond Wanton Gold 3-t to 35 Bea ver. 27a Clifton. 13 to 14 Crown Reserve. 35 to 36vi Castle 77 to 78 Indian 13 to 15 Everett 7% to Hollinger 13.75 to 13.90 mining corporation sys to 280 new Ray. 23 to 24 Teck Hughes 135 to 137 Tough Oakes 32 to 33 Vipond Llo to 117 capital 27 to 23._________ tenders separate sealed tenders addressed to thai chairman. Committee on Public improvements. Will be received at the office of the unders lined up to o clock u m. On tuesday. April 14th, 192o, for the Supply of the following 11 cubic Yards of Sand for a Shalt Plant. 500 to 1.000 tons of Asphalt Cement. 41 100 000 Lineal feet of 3-in. Drain tile. Specifications and form of tender to Othur with conditions govern los ten Dors As prescribed by bylaw May be obtained at the office of the City Engi Neer 223 James Avenue. The lowest or any Lender not necessarily accepted. C. J. Blown. City clerk. Cur clerk s office. Sven Naea. Auril 1st. Montreal stocks Mcdougah Cowans Montreal april open High Low close . Steel 2nd or 3v, 9 a 9% 9v, by Albi 66% 66% 66% corp. 70 70 sees los Corn or 95 92 93 Sucar 27 27 the net Revenue for january and is larger than the february net in any year since 191s. Stocks and shares on the Montreal Stock Exchange Tida turns leaving Many losses outnumbering gains breweries Lead in activity and lose construe Tion Felt buffers in 1924. Special pcs Patch to Tho tree Montreal april Liquida Tion came into the Market Here on tuesday following the Strong show ing of saturday and monday and those stocks which had benefited most in that upward movement feed the most pronounced trading was on a loss Active scale when compared with tie previous Day and. The average Price of Twenty representative suffered a net loss of .24. Despite the excess of losses Over gains the Market had the appearance of one with a Strong undertone and he. Action of. The stocks appeared quite a natural development. National breweries was by far the most Active Stock Here and was in fact the Only Stock to furnish Trad ing in Over a thousand shares. This Stock after Early firmness turned quite weak in the afternoon and closed the Day for a net loss of 2 3-s Points the greatest recession shown n the list. There were no new developments in th.3 brewing situation. Three Strong spots were uncovered in Atlantic sugar preferred. . Fishing and Dominion Bridge each making a net Gizin of Throe Points St Lawrence up Points was another Strong feature. In each of these cases there were no particular developments to Cunlain an unusual interest in the stocks. Winnipeg railway was off one half. Construction Vork in the news print Mill of Wataga Mack pulp and paper company 1 jilted has already started at three Rivers. Contracts Tor construction and installation Nave Heen award a to Chas. To Palms Ley and company to jolted of Lon Don Tungland for the group Elwood Mill machinery newsprint machines and the Dominion Bridge company for the steel work. The pulp and paper company. Limited through its subsidiary has contracted in London Inder the Briti Trade facilities act a 5 per cent fifteen year loan of it is expected that the company will Complete its financial by the Issue on Tho Canadian Market of f five ear Gold notes. Canadian consolidated Felt com Pany. Limited for the year ended dec. 31, 1924, report a net loss of Money at work try the method described Belov and see what Success you 78s -.115 at 178 so at. 178h. Asbestos at National at 100 9s 205 it 49 so at 615 at 05 lit is23 at 50 at Ali Luibl at 66 a. Oel lilo 137 a Peter at spin Uriah at 10614 at at 25 at Bank of at 205 Winnipeg at ride there on dimes by putting every dime you get in change into an investment fund you can travel a. Lon i Way on the Road to financial Independence. In order to Flat out How much Money a dime Bink would accumulate the Nineteen of his friends carried dime Banks for two weeks resolving j to. Put. Every., dime we got in Changi i into the Bank As soon As we Sot it. The result vre. Found that put an average of s3.20 into the Bank each week. Just How Large a 1 actor in investment is per at 6 per cent compounded Semi annually j3.20 saved each week to s2.302.63 in ten years in Twenty years. Quite a sum in t it the Best sgt about it is that this is a Pallesi you Don t even notice the departure of the dime. C copyright i9z51 Asio Cittad eol Torl inc As compared with a Loas of in the previous year. Cost of goods sold Selling and general expenses and provisions for bad debts amounted to leaving a balance of this was turned into a deficit for the. Year of by deduction of. Bonds in Terest at and other previous surplus was brought for Ward at leaving a total sur plus at the liquid capital of the company is shown almost wiped out. Standing at. Only As compared with in the previous statement. Shwu Story thorough is option w Many opinion in great Britain is grow ing that a thorough overhauling in the Only Way in which British Industry can maintain itself under Tho fierce Strain of Post War Competition the alarm Felt in the country Whei a British shipping company place on order for five Motot ships with a German shipyard intensified when it became known that even had British workmen Given their labor for nothing German bid would still Havo undercut the offer made by British Yards. The derangement of wage Levels during the War according to the London times has much to do the present state. Wage claims certain industries Are harmful to others. The Price of a ship is one Price. If an undue share of thai Price is required to pay for transport and engines a smaller share will re main for distribution in the Yards to might be said that wages in Tho engineering Industry should not More properly follow wages in the ship Yards but the is determined that there shall be one indivisible engineering Trade whether tha deploy Merit in. Heavy. End Glne ering textile engineering or motor cars. Inequalities must always exist but it remains True that the level of wages must depend upon the Prosperity of the Industry. The attacking Blem from another Angle quotes the prime minister or. Baldwin when he said that British had to face fundamental questions of Over capitalization defective manage ment a wasteful use of Plant and machinery and the absence of facilities for economical marketing. The Spectator concludes the. Need for a really scientific inquiry is urgent. We must know All the facts. It is not ingenuity cover a remedy. To talk about Cut Ting wages and increasing hours is to irritate with a. Scalpel the skin of a patient who requires a major sir Philip Dawson ji.p., in an interview Given after his return from a visit to Germany said Germany is the Best equipped nation industrially in the world. Their Power of working together is extraordinary. German factories Are the Best equip Ped anywhere. Even today they Are scrapping machinery in order to re place it with More up to Date equip ment in one factory i visited there was not a single machine tool of a Date earlier than 1917. The German Banks do not Advance Money for Industrial development but actually take a share in the business. It frequently happens that when an Industrial concern wants new Money the Banks take Over a number of shares arid borrow Money from the English Banks. It is big ish Money that is directly used for financing German Industry when Bank is directly interested in a firm it naturally sees that wherever possible orders go to the Concersa in which it is interested and thus is obtained a combination of big interests from the raw material to the finished product with the Banks at their backfill the time. Industry in this country can learn i Good Deal from Germany not Only n the co operation of the Banks but i the systematic reduction of Over Lead charges which is being steadily effected in Germany by the amalgamation of interests., with Conse quent saving in expenditure on patents on drawing offices on advertising and in Many other direct motoks1ps Are Bong built to larger extent .42 . Of All ships building an of this activity is greater Sterling Exchange amt Wietec Tress new York april change steady at for sixty Day jills and at for dem anal. Foreign bar Silver Canadian dollars 1-16 of 1 per. Cent discount. Mand lire Dema associated press new York april o German shipbuilding and an increase in motor ship construction Are outstand ing facts brought out in a statement covering Tho world s shipbuilding in the Quarter ending March 31. 1525, issued by Lloyd s Register of shipping today German shipyards including those o. Tho International port of Danzig Are now building about tons More than a year ago and rank second to great Britain and Ireland which in Tho same period Havo declined Abou tons. The United states had dropped to seventh place. Germany s gain la the greatest 000 tons March. Is 1925, against Ems the year before. The brits fills ures for 1926 and respectively arc tons and tons. France Italy and Holland All show substantial gains. Japanese building has fallen off tons As compared with March 31, 1924. Forty two per cent of Al ships building Are the world Survey shows. All shipbuilding totals tons of which tons represents motor ships. Fishing is Feathe of Toronto Mange Winnipeg electric common is weak in traction group Toronto april fishing was the outstanding Strong Stock in tues Day s Stock Market. A High Point of 30 was reached which was within two of the record Price for the year. Can ners common reached the previous High at 100 1-2. Brazilian traction shares struck a new Low Point for the year at 50 1-2, the Low Point for a. Net loss of 3-4. The other weak Stock a the traction group was Winnipeg electric common which figured at 41, a recession of 1-2 Point. The close on Winnipeg com on was 40 3-4 to 41 1-4. Atlantic sugar preferred advanced 1 Point to 6s on the local Market. Other Price changes included american Sale Book common off Atlantic sugar common off .3-8 Bell Telephone up 3-s Cement common up 3-8 c.p.tj., Oft 1-4 steamships preferred Oft 1 1-4. Consumers Gas. Off 1 Maple Lead common up 1-2 steel of Canada com Mon up 1-4, and smelters up 1 1-2. Gold controversy flares up again expert declares Gold Standard would Benefit Only knifed states special Calile to the free pruno april unofficial re port that Winston Chancellor of the exchequer will restore British currency to the Gold basis before the end of this year has revived the heated controversy Over the advisability of such a move. The opponents of the Gold Standard have made a Strong Appeal for delay that the economic history of the last five years shows that prewar Tura Effort toward i restoring Sterling to Normal defeats itself As. It increases unemployment impedes Trade and encourages foreign Competition. One expert reviewing the. Case the Gold Standard. Declares that great Britain deliberately into a dangerous plan to. Res Tore the Gold Halls to help the United states out of the rouble caused by its glut of Gold. He maintains that two ago 3reat Britain refunded her. Debt to the United states that country increased to Tariff rates to keep out British Roods and forced great Britain to pay y shipping Gold. Advocates of the Gold Standard Clare that this country must make the change in order to maintain its credit. N Oil . announce his decision writer. He outlines the budget toward Thor end of this month. Domestic fuel weeds May be let with Coke that 52 per cent of the Domestic fuel requirements of the acute fuel area of Ontario and Quebec could be with by product Coke manufactured in conjunction with meet the present Gas consumption of the statement made in a report just issued by the Dominion Uel Board. J by product Coke it la pointed out can. Be economically operated there for produced. Strategic Points selected As specially suitable for plants Are port ism Dot Ottawa and Quebec industries port Colburns would furnish a arge Industrial demand for the Fias produced whilst in the other centres mentioned the Era is a Domestic As Well is an Industrial demand. New Yor stocks close offs Clark now tort april 7, open hash Low Copper Amer. 94h Anaconda 38 Cerro de Pasco 45 Chile China 94 38- 44 54 94 to 38 44% Erie com. It. N or. Pad. Kana. City so. Lohigh Valley Katt. To. Pacific com. 85 29 84-34 84-% 21 i 48% 4814 48w 10% 10j-. Ray cons. It Tell. 85 Itai Road atch non 120 120% Llott 119s4 Gnu t Ohio 75% i 14 Chicago n Wost n s4vs 29 6314 31 Ter Jav Ltd. Int. Nickel paper North Amer. Coi-45 -4614. Adar. Goal Burgh Coal. Ratio corp. 56% Immons co. 40 i 54 pm 34j4 36., 34% Sli a Tex. Gulf Sulphur 105 105v, 103h Worthington a. 49 a 49% 48 41 West Lush. Else. 67k 6 1 a new York curb close Osier Hammond Nanton Standard Oil of Indiana Standard Oil of n.y., 42% to 43. Imperial Oil. 29% t0 299i. International Petroleum to Continental Oil. 24 to do., rights. S3 to 91. British american Oil 37% to 38. .393. Montreal 27 6. Nova Scotia Roy Al 235. Union . Earnings. Trio Gross earnings of the Canadian National railways for the eng a decrease of Over corresponding week of 1924. Gross earnings of the Canadian ii a ional railways from Jan. 1 to maj sch 1, 1s23. Have Heen being a decrease Northwest rail group is oven Chicago and Northwestern is Centre on rumours later denied of dividend Cut new York april 7.-st0ek opened Strong on tuesday "7 general list moving upward under the motor and Oil turned reactionary around noon win weakness cropped out in the Western rails and steadied again wards tha close when bullish open tons in the motors were resumed. Him quotations were railed hut lower the recessions in tha issues ranging from fractions to Points. Selhoff pressure against n Western rails centred on Chlam Northwestern which Down More than five poin officially denied that the t was in danger. Net losses of two. Points were recorded by Northern preferred Unwin raa., Lackawanna and Delaware and son. Norfolk and Western showed in dependent strength closing higher at 130, after Selling Beairl Point above that figure. United Stilt steel common showed a o s at Baldwin which Iol i. My As 115% in the Early trading mered Down to and to Oft. American Point lower at Maxwell motors a and then a an closed i touch. De new High records for year tag and resp etl Ely i motors duplicated its record Elci 340, and Packard touched at Call Money held steady a 4 per All Day. Time Money rates relay i slightly All maturities being on pm. To locally a 4 per cent basis. Commercio paper rates were unchanged. Total sale3. Shaines. Eastman term Iver company to Kodak inventor retires seventy one Otto i at Ageon i special despatch to the i fee pros now York april a. In Jer sey City Georga a Atman inventor of the Kodak will turn Over the Reisui of his business capitalized at More than to two Jot his Socrates who have grown up with the company George g. Stuber Aad Frank w. Lovejoy. This one time Amateur photog a give himself Benefit of 3. Somewhat More de to Clad Posi Tion in human Acta frs. George Eastman s Tschoi when he was 14. Then he Ilin dreaded Toof Carol As office boy at three dollars ideas to help his widowed by tha time he was 25 he had saved few from his earnings above Phe amount required to support the a title of Milf. His life was devoted to his motto and for 52. Years 1907, they were together. Or. Eastman has never married. The business that or. Eastman will turn Over to two of Ilis vice presidents was incorporated in 1s01 in new Jersey. It is a holding com Pany for tire Rochester concern which operates the subsidiaries in this country and abroad. Tjon new York. Cotton. Clark Star ten open High Low Clow 2.4 40 24.56 24.34 24.72 24.s5 24.63 oct. 2437 w 39 "24.30 2ut new York five. Down. May july Bank Stock sales Canadian press Toronto april this morning were 174 at 199. 15 194 31 Imperial at 187, i Nova Scotia at 262 3 Union. At ask your stationer for Reliance Ink you Are entitled to the Best he Sells. The Ink you can bely of. Suggestion for diversified investment Southern Canada Power co. Ltd. 6% 1948 St. Lawrence paper Mills limited 1944.-. East Kootenay Power co. Limited 7% 194j Canada steamship lines limited 7% 1942 Manitoba Power co. Limited 7% 1941 Ottawa River Power co. Limited 1953 Northwestern utilities limited 7% 1938 Ottawa Montreal Power . 1949 10 Shi. Ottawa and Hull Power co. 7% preferred 10 she. East Kootenay Power co. Mar Mayi Juni june june sept. Sept. Oct. Nov. Nov. Dec. Dec. Dec. Quarterly quarterly if desired investors can. Secure this identical do Velty in Small or by purchasing smaller Denonna Tioila. We invite your inquiries for investment service Nesbitt Thomson company limited electric railway Chambers Winnipeg i Ontkean to lepton. N. 9793 Hamilton Toronto Onoon. One ;